Future Retail to defend petition filed by Amazon in Supreme Court
February 15, 2021
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The Future Retail-Amazon corporate battle has intensified. Future Retail has said it will defend the petition filed by Amazon in the Supreme Court.
Earlier last week, Amazon had filed a Special Leave Petition before the top court against the status quo Stay Order passed by the Divisional Bench of the Delhi High Court.
Now, the Kishore Biyani-owned Future Retail, too, has said it will defend the petition. The Company shall defend the matter and proceedings through our legal counsels and keep you informed about outcome of the same.
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A public interest litigation has been filed before the Delhi High Court seeking directions to the Delhi High-Powered Committee (HPC), which last assembled on 14.01.2021, to take appropriate measures.
Amazon has moved the Supreme Court against the order of the Division Bench of the Delhi High Court which had stayed a Single-Bench direction of status quo in favour of Amazon.On 2nd February, 2021, in .
The equity benchmarks further extended gains and hit record high levels in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, jumped 426.29 points or 0.83% to 51,775.06. The Nifty 50 index spurted 124.70 points or 0.82% to 15,240.50.
The Sensex hit a record high of 51,835.86 and the Nifty hit a record high of 15,257.10 in mid-afternoon trade. Both the indices have gained over 11% in seven straight sessions.
The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index rose 0.37%. The S&P BSE Small-Cap index gained 0.33%.
The market breadth was negative. On the BSE, 1419 shares rose and 1482 shares fell. A total of 174 shares were unchanged.